leasing is very easy... you can afford car payments forever or you can't
person A BUYS a car for 10k.. for numbers we'll say with interest it's 15k.. he pays for all repairs on his own.. after 5 years of car payments of 250, he owns the car and can sell it if he wants.. or drive it into the ground for 20 years if he so chooses... that's 15 years with no car payment
person B LEASES a car. he doesn't pay for any repairs, the dealership wants the car running great. that also comes with a mileage agreement.. you drive that car too many miles, you pay up. that's THEIR car. you pay 250 per month (you can lease ANY car, not just expensive ones).. after 2-3 years, you can a NEW car.. any car you qualify for. so you got the 2017 version... 250 per month.. OR you could buy it out, which will probably be around 17-18k (more than if you didn't lease it)
basically if you don't mind paying 250 per month for the rest of your life. you can always have a new car and never worry about repairs.. but if you'd rather have an end date, where you're free and it's yours.. to drive forever or sell.. then buy it
nikkas in here acting like only the rich do this.. you can go lease a honda civic if you wanted to.. 150-200 a month.. when you want the new one, come see us again
i'd lease but the mileage over thing would kill me.. i love roadtrips.. i remember this cause my boy's mom leased a miata... he ran like 50k miles over
1. Mileage monkeyshines
Most leases are written to allow a certain number of miles each year. Often, dealers offering low-cost leases cash in by setting this mileage limit low -- say, 10,000 miles annually. Typically, the charge for each mile over the limit is 10 cents to 20 cents per mile.
Example: Say you drive 13,000 miles instead of the 10,000 allowed each year for three years. At 20 cents for each extra mile, you'll owe $1,800 at the end of your lease (9,000 excess miles times 20 cents per mile). That's an extra $50 a month.
Read more:
http://www.bankrate.com/finance/auto/top-10-leasing-booby-traps-1.aspx#ixzz3K4Q8I7rx
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